7 U.S.C. § 925 — Loan feasibility
submitted 90 years ago by Pub. L. 101-624 to r/title-7-AGRICULTURE · 59 words · no verdicts yet
The Secretary may not require certain rate or financial-ratio increases as a condition of making a telephone loan. The restriction applies to increases in customer charges and to the applicant’s net-income-or-margins ratio compared with interest requirements.
As a condition of making a telephone loan to an applicant, the Secretary* may not require the applicant to:
(1) Increase the rates charged to the applicant's customers or subscribers; or
(2) Increase the applicant's ratio of:
(A) Net income or margins before interest; to
(B) The interest requirements on all of the applicant's outstanding and proposed loans.
This section does not define “telephone loan,” “net income or margins before interest,” or “interest requirements.”
The Secretary* may not, as a condition of making a telephone loan to an applicant therefor, require the applicant to—
increase the rates charged to the applicant’s customers or subscribers; or
increase the applicant’s ratio of—
net income or margins before interest; to
the interest requirements on all of the applicant’s outstanding and proposed loans.
Source credit: (May 20, 1936, ch. 432, title II, § 204, as added Pub. L. 101–624, title XXIII, § 2355, Nov. 28, 1990, 104 Stat. 4039; amended Pub. L. 103–354, title II, § 235(a)(13), Oct. 13, 1994, 108 Stat. 3221; Pub. L. 115–334, title VI, § 6602(b)(2), Dec. 20, 2018, 132 Stat. 4776.)
- 1936Enacted · Pub. L. 101-624 · 104 Stat. 4039
- 1994Amended · Pub. L. 103-354 · 108 Stat. 3221
- 2018Amended · Pub. L. 115-334 · 132 Stat. 4776
A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-624 on 1936-05-20.
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